🚀 Paramount Skydance Stock Soars 10%+ as Meme Traders Stampede In

Wall Street's latest meme darling just got its horns—and the bulls are charging. Paramount Skydance stock ripped double-digit gains overnight after retail traders slapped the 'meme' label on it. Here's the breakdown.

### When Fundamentals Don't Matter

Forget P/E ratios—this rally runs on vibes. The stock's sudden spike mirrors classic meme-stock behavior: zero news, maximum hype. Analysts mutter about 'detached valuations' while traders count tendies.

### The Cynic's Corner

Another day, another ticker hijacked by dopamine-deprived apes. At least this time they picked a company with actual revenue—progress?

### What's Next?

Watch for the inevitable rug-pull. These pumps never last... unless you're the one holding the bag.

Key Takeaways

• Paramount Skydance shares jumped nearly 40% Wednesday after CNBC stock commentator Jim Cramer called it a "meme stock."
• The newly merged media conglomerate experienced a surge in trading volume after Cramer's tweet noting the company's "small float" of shares available to the public.
• Other meme stocks in recent years have also been propelled higher by a limited float or trading frenzies not based on the companies' underlying fundamentals.

Paramount Skydance, the media conglomerate newly created with the merging of giants Skydance Media and Paramount Global, just hit a major cultural milestone: It's been "memed."

Shares of Paramount (PSKY) closed nearly 40% higher on Wednesday afternoon at $15. Average volume in the stock for the three trading days after the deal closed on Aug. 7 was around40.6 million, but jumped to 130.9 million on Wednesday amid the buying frenzy.

Though the stock started to climb at the market's open, it soared higher after CNBC's "Mad Money" show host Jim Cramer tweeted: "Paramount (PSKY) is a meme stock!!!!!!!!!!!!!! Small float ... shocking."

The term Cramer used—float—refers to the number of a company's shares available to the public, calculated by taking total shares outstanding and subtracting any restricted or insiders' shares.

A small float, which WOULD allow a group of people to move the share price substantially, is a quality that meme stocks usually have in common. They also may experience sharp swings in their share price not based on their underlying fundamentals. Other notorious meme stocks include American Eagle Outfitters (AEO), Kohl's (KSS), and GameStop (GME).